Cohen & Steers Inc. Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Cohen & Steers Inc. increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,693 shares of the electric vehicle producer’s stock after buying an additional 85 shares during the period. Cohen & Steers Inc.’s holdings in Tesla were worth $684,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TSLA. Peninsula Wealth LLC grew its stake in Tesla by 4.3% in the 4th quarter. Peninsula Wealth LLC now owns 6,679 shares of the electric vehicle producer’s stock worth $2,697,000 after acquiring an additional 273 shares during the period. 3Chopt Investment Partners LLC acquired a new stake in shares of Tesla during the fourth quarter worth $2,892,000. Keystone Financial Group increased its stake in Tesla by 193.1% in the fourth quarter. Keystone Financial Group now owns 83,357 shares of the electric vehicle producer’s stock valued at $33,663,000 after purchasing an additional 54,920 shares during the last quarter. Savvy Advisors Inc. lifted its position in Tesla by 19.8% during the fourth quarter. Savvy Advisors Inc. now owns 9,015 shares of the electric vehicle producer’s stock worth $3,641,000 after buying an additional 1,488 shares during the period. Finally, Bragg Financial Advisors Inc boosted its stake in Tesla by 1.9% in the 4th quarter. Bragg Financial Advisors Inc now owns 29,409 shares of the electric vehicle producer’s stock worth $11,877,000 after buying an additional 537 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $41,745,581.15. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 374,228 shares of company stock worth $123,791,123. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on TSLA shares. Evercore ISI boosted their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Robert W. Baird dropped their price target on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Mizuho dropped their target price on shares of Tesla from $430.00 to $375.00 and set an “outperform” rating for the company in a research report on Thursday, April 10th. Finally, Wedbush reduced their price target on shares of Tesla from $550.00 to $315.00 and set an “outperform” rating on the stock in a research report on Monday, April 7th. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $298.59.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $252.35 on Tuesday. The business’s 50 day moving average is $282.67 and its 200-day moving average is $323.51. The firm has a market cap of $811.69 billion, a P/E ratio of 123.70, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.